The leak detection system for oil & gas detects and locate the exact location of the leakage. The main purpose of the leak detection system is to assist the pipeline operators and monitors in detecting and localizing the leakage. This leak detection systems can detect the leakage at all stages of oil & gas industry such as upstream (exploration & production), midstream (pipeline networks), and downstream (refineries and storage tanks).

In oil & gas industry the leak detection system is used for detecting the leakages during the process of exploration of crude oil & natural gas during the supply of oil & gas through pipeline network, and during refinement. This helps the oil & gas companies to avoid the heavy losses caused due to the leakages and also helps the companies to follow the regulations provided by the government for safety of environmental concerns.

The major challenges associated with leak detection system are that a leak detector should be able to perform identification, localization, quantification, and classification (medium, harmful/harmless) of a leakage. As per the study, no technology alone can perform all of these operations and it may be hard to accomplish by combining sensors. Moreover, another challenge for the leak detection system is to handle the unwanted warnings often generated due to the natural seepage of hydrocarbons from the seabed. Future trend for leak detection system for oil & gas includes to improve the performance of leak detection systems beneficial to overcome the above mentioned challenges.

This report describes market trends, drivers, and challenges with respect to the global leak detection market for oil & gas, and forecasts the market size between 2015 and 2020, segmented on the basis of type, technology, application, and geography. This global report provides a detailed view of the market across regions, namely, North America (the U.S., Canada, and Mexico), Europe (Russia, Germany, the U.K., Others), Asia-Pacific (Japan, China, India, South Korea, Rest of APAC), and RoW (Middle East & Africa, Latin America).

The competitive landscape of the market presents a very interesting picture. The market is witnessing new product launches, large scale collaborations, and agreements and partnerships across the value chain, with a number of major players around the globe.

About MarketsandMarkets
MarketsandMarkets is world's No. 2 firm in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors.

M&M's flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical infographics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers.

We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.